A dynamic game of waste management

Steffen Jørgensen

Journal of Economic Dynamics and Control, 2010, vol. 34, issue 2, 258-265

Abstract: The paper studies a differential game of waste management (disposal). Each of three neighbouring regions is endowed with a stock of waste, but no additional waste is generated in any region and waste does not decay from natural reasons. A region's stock of waste can be reduced only by dumping on its neighbours. The model features two externalities: a strategic externality caused by the fact that the payoff of a coalition depends on the actions of players outside the coalition, and a stock externality caused by the fixed overall amount of waste. The game has a finite time horizon and it is shown that intertemporal core-theoretic cooperation can be sustained under intuitive conditions.

Keywords: Differential; games; Core-theoretic; cooperation; Waste; disposal (search for similar items in EconPapers)
Date: 2010
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Persistent link: https://EconPapers.repec.org/RePEc:eee:dyncon:v:34:y:2010:i:2:p:258-265

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